Greek gambling monopoly OPAP expects its stakeholders to experience a ‘rewarding’ year after it recorded a jump in revenue and earnings before interest, tax, depreciation and amortisation during the three months to March 31, 2014.
The company posted revenue of €965.5 million ($1.3 billion) in the first quarter, which is an increase of 11.1% on the €869.3 million achieved in the corresponding period last year.
Gross gaming revenue also jumped by 5.8% from €302.6 million last year to €320.1 million in the most recent period.
In addition, EBITDA increased by 32.4% to €76.3 million while net profit grew by 27.6% to €49.7 million in the quarter.
Kamil Ziegler, chairman and chief executive officer of OPAP, said: “Q1 2014 was marked by OPAP’s return to meaningful profitability growth.
“The operating performance of our key games was further reinforced aided by the persisting revitalisation actions in our games’ portfolio, while we also increased operating efficiencies in line with our long-term commitment.
“The improved performance together with the successful and well perceived launch of the scratch tickets, only the first game to come within a series of new products throughout the year, makes us confident that 2014 will prove to be overall a rewarding year for all of our stakeholders.”
source : www.igamingbusiness.com
